Earnings Releases·Nov 9, 2026, 4:13 PM ET

Occidental Petroleum — Third Quarter 2026 Earnings Summary

Reported net income of $1.6 billion ($1.61 per diluted share) and adjusted income of $2.0 billion ($1.91 per diluted share), supported by $4.1 billion in operating cash flow and $2.8 billion in free cash flow before working capital.
Achieved a major debt reduction milestone, lowering principal debt to $10.0 billion (a $1.8 billion reduction year-to-date) while maintaining production of 1,427 Mboed, which exceeded the mid-point of guidance.
Oil and gas pre-tax income declined to $2.6 billion from $2.8 billion in Q2 2026, driven by an 11% quarter-over-quarter drop in realized crude prices to $85.91 per barrel, though domestic gas prices improved 209% to $1.61 per Mcf.
Management reaffirmed confidence in a plan to add over $4.0 billion in annual sustainable cash flow by 2030, creating a pathway to accelerate capital returns and deliver long-term value.